Class A Office
For Sale
Contact for pricing
600 Stonehenge Pwky, Columbus, OH
Second-floor office condo with abundant natural light and private elevator.
Property Size5,306 SF
Lot Size0.12 Acres
Price / SF$168.68
Days on Market470
Property Features for 600 Stonehenge Pwky
General Information
Standard status
Active
Size
5,306 SF
Lot size
0.12 Acres
Property subtype
OFFICE
Listing Agency:
Rj Boll Realty, Ltd.
(614) 402-0373
Listed By:
Jeffrey Boll
(614) 402-0373
Source:
Moodyscre
Added: May 9, 2025
Changed: Jul 6
Last Checked: Aug 21 at 5:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rj Boll Realty, Ltd.
Investment Insights
Based on property information with market context.
This second-floor Class A office condominium unit, built in 2004, offers approximately 5,306 square feet of space. The unit features abundant natural light due to oversized windows. It includes private elevator access and a parking ratio of 4 spaces per 1,000 square feet. The property is zoned OLR. A new roof and exterior painting were completed in 2024. Potential seller financing is available.
Key Highlights
- Abundant natural light from oversized windows
- Private elevator access
- 4 car parking space/1,000 Sq. Ft.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,302
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,226,040
$1.2M
Cap Rate 7%
$875,743
$875.7K
Cap Rate 9%
$681,133
$681.1K
Market Conditions
NOI Build-Up for 5,306 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.1K $19.80/SF
− Vacancy
−$23.3K −$4.40/SF
EGI
$81.7K $15.40/SF
− OpEx
−$20.4K −$3.85/SF
NOI
$61.3K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,226,040
Cap Rate 7%
$875,743
Cap Rate 9%
$681,133
Alternative Uses
Best Use
Office B
$875.7K
$766.3K – $1.02M
NOI $61,302 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$967.6K – $1.29M
NOI $77,406 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office condo with abundant natural light and private elevator.
Where is this office units located?
The property is located at 600 Stonehenge Pwky Columbus, OH.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Abundant natural light from oversized windows; Private elevator access; 4 car parking space/1,000 Sq. Ft.
